Baxia Markets
September 09, 2021

Downward Trend Continues On NZDUSD

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As can be seen, the previous upward trend had lasted for sixteen days since Aug 20th. During this upward trend, the Bollinger Bands hardly made significant fluctuations or shrinks, meaning the price moved solidly. Recently, the price met resistance on Aug 6th.




The standard deviation went down after the resistance on Aug 6th, which could mean that the fluctuation passed. Also, the ATR remains at a low level; it could be considered that the new trend stays firm. Also, the parabolic SAR made a new downward trend. MACD just made a bearish cross; it went broad after being bearish, so the bearish situation could last for a while. Now the new downward trend has been moving for three days; the price just broke the 23.6% Fibonacci level.


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